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The attitude toward the risk of entrepreneurial activity: Evidence from Chile

Jean Sepulveda () and Claudio Bonilla

No 3, Past Working Papers from Universidad del Desarrollo, School of Business and Economics

Abstract: We study the factors that may influence the attitude toward the risk of entrepreneurial activity and its impact on the propensity to become an entrepreneur. We proxy the attitude toward risk by using the answers to the fear of failing question contained in the Global Entrepreneurship Monitor survey. Interesting results are found. First, we found that being male, having more years of formal education and believing to have the necessary skills to developing a new venture have all a negative effect on an individual`s attitude toward risk and therefore, increase the probability of becoming an entrepreneur. Age affects the risk in a quadratic way (first positive but after to some point negative). Finally, contrary to conventional wisdom, having the experience of shutting down a business has no effect on the risk`s attitude for developing a new venture in the Chilean case.

Keywords: Fear of failing; risk aversion; entrepreneurship; GEM. (search for similar items in EconPapers)
JEL-codes: D81 L26 M13 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2010-01, Revised 2010-08
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed

Published in Academia, Revista Latinoamericana de Administración, 46, 2011, 72-80

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